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International Real Estate Review
Author(s) -
Maurizio d’Amato
Publication year - 2007
Publication title -
journal of the asian real estate society
Language(s) - English
Resource type - Journals
ISSN - 1029-6131
DOI - 10.53383/100083
Subject(s) - valuation (finance) , property (philosophy) , class (philosophy) , real estate , econometrics , mathematical economics , computer science , economics , finance , artificial intelligence , philosophy , epistemology
This paper focuses on the problem of applying rough set theory to mass appraisal. This methodology was first introduced by a Polish mathematician, and has been applied recently as an automated valuation methodology by the author. The method allows the appraiser to estimate a property without defining econometric modeling, although it does not give any quantitative estimation of marginal prices. In a previous paper by the author, data were organized into classes prior to the valuation process, allowing for the if-then, or right “rule” for each property class to be defined. In that work, the relationship between property and class of valued was said to be dichotomic.